Keegan Resources Inc
Monday, July 23rd, 2007
Keegan is pleased to announce that it has discovered a new gold-in-soil trend at the Asumura gold project in southwest Ghana, which coincides with a large regional north east trending fault indicated by a large aeromagnetic break in the northeastern portion of the deposit. The anomaly is over 5.5 km long and varies from 300 â€“ 500 meters wide and is defined very consistently by 20 â€“ 376 ppb Au values obtained in the low lying, deeply lateritic soils. The widest and thickest portion of the soil anomaly occurs where there is a significant flexure in the fault and the anomaly trends across the entire strike length of the fault on Keeganâ€™s property and likely extends to the northwest onto ground recently acquired by Goldfields Limited. Keegan plans to complete preliminary testing in preparation for a drill program which will test all three structures.
Dan McCoy, President and CEO of Keegan states: â€œWe are pleased to find a new, very strong and consistent geochemical trend on the Asumura property and have it coincide with one of the three regional scale northeast structural breaks on the property, which as indicated by Newmontâ€™s Ahafo deposit, are prospective for very large gold deposits on this side of the Sefwi-Bibiani greenstone belt.â€
All soils are assayed using BLEG analysis on a one kg sample by Transworld Laboratories (GH) Ltd., Tarkwa, Ghana and QA/QC was ensured by good repeatability from external standards. The IP anomalies discussed result from contouring of 2D inversion profiles at 100 meters depth. Vincent Dzakpasu, a qualified member of the Institute of Mining and Metallurgy in the United Kingdom is Keegan’s QP on the property.
In other company news, Keegan has ended its option agreements on the Regent and Black Velvet properties located in Nevada, in order to focus on its full technical and financial capabilities on developing its Ghanaian gold properties.